Artemis Resources Limited — Capital/Financing Update 2017

Jun 19, 2017

ASX / Media Announcement

20 June 2017

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Artemis Resources Limited ARBN: 80 107 051 749

Level 3, IBM Building, 1060 Hay Street, West Perth, WA Australia, 6006

PO Box R933 Royal Exchange NSW Australia, 1225

Phone: +61 2 9078 7670 Facsimile: +61 2 9078 7661 Email: info@artemisresources.com.au Website: artemisresources.com.au

HIGH GRADE COBALT AND FOUR NEW COBALT TARGETS IDENTIFIED -CARLOW CASTLE PROJECT-

• Four new significant Cobalt targets identified by RAB drilling.

• Phase 1 RC drilling completed.

• 6.5% Cobalt was highest drill intercept recorded (ARC006).

• Best RC drill hole results include:

• 22m at 0.7% Co, 5.9 g/t Au and 2.6% Cu from 39m (ARC033a),

  • Including 6m at 1.8% Co, 13.9 g/t Au and 5.9% Co from 41m.

• 6m at 1.9% Co, 3.4 g/t Au and 1.4% Cu from 52m (ARC006),  Including 3m at 3.5% Co, 6.2 g/t Au and 2.4% Cu from 52m.

• 11m at 0.8% Co, 14.07g/t Au and 3.41% Cu from 32m (ARC008),

  • Including 7m at 0.96% Co, 20.38g/t Au, and 4.98% Cu from 32m.

• 10m at 0.63% Co, 4.12g/t Au and 0.69% Cu from 86m (ARC031),  Including 3m at 1.27% Co, 12.3g/t Au and 1.36% Cu from 86m.

• 5m at 0.62% Co, 2.8 g/t Au and 2.15% Cu from 31m (ARC001),

Directors:

Executive Chairman David Lenigas

Executive Directors Ed Mead Alex Duncan-Kemp

Non-Executive Directors Campbell Baird

Company Secretary: Guy Robertson

Corporate Information ASX Code: ARV

• Including 2m at 1.39% Co, 5.16 g/t Au and 4.24% Cu from 3m.

• New RC and diamond drilling planning underway.

• Artemis’s Radio Hill sulphide processing plant is 20km by public roads.

New Cobalt Targets identified from RAB drilling at Carlow Castle

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“Artemis is planning to accelerate exploration efforts at Carlow Castle. We have excellent Cobalt grades from drilling and have now found Cobalt indications over a very large area.”

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David Lenigas, Artemis’s Executive Chairman, commented;

“Artemis has now completed the first stage of RC and RAB drilling of this very exciting 100% owned project. The RC drilling has identified some very good cobalt, gold and copper grades over very good widths and we are now planning a major new phase of RC and diamond drilling to cover the strike and depth extensions of the known mineralisation and start testing the new targets identified by the shallow RAB programme.

The Cobalt price is now US$57,000 per tonne and is a very key component required for the growing EV and energy storage markets. The expected demand for this metal is seen as rising significantly over the coming years. A great deal of the world’s Cobalt currently comes from the Democratic Republic of Congo (DRC), where Cobalt grades approach the 1% mark. To find Cobalt grades of this order in Australia makes this project very significant.”

Artemis Resources Limited (“ Artemis ” or “ the Company ”) ( ASX: ARVDA ) is pleased to report the completion of the Phase One drilling program on its 100% owned Carlow Castle Project 10km South east of Roebourne in the Pilbara Region of Western Australia ( Figure 6), has defined highly significant cobalt mineralisation that has not previously been reported.

The cobalt mineralisation at Carlow Castle has been previously ignored as previous companies exploring in the area focused on the gold and/or copper mineralisation as single commodities. Artemis has taken an integrated approach to mineralisation and an expansion of exploration has been undertaken to better define the overall cobalt copper and gold potential of the Carlow Castle Project.

The project has previously been the focus of gold and copper mining with production between 1880 and 1910. In more recent times drilling has identified a JORC (2012) Inferred Mineral Resource (Figure 2) of 418,000 tonnes at 3.0 g/t Au and 0.6% Cu , for total contained metal of 40,000 ounces of Au and 2,500 tonnes of Cu[1] . The current gold copper resource also contains cobalt mineralisation, which has not been included in the resource estimation.

A review of data associated with the Quod Est Mine at Carlow Castle has identified waste dump samples from mine workings taken in 1967 that averaged 3.22% copper, 0.4% cobalt and 4.1 g/t gold (WAMEX A10031).

The maximum assays reported from 1971 samples from the Cobaltiferous underground ore at Quod Est contained a maximum of 5.88% cobalt and 4.2% copper and 0.29% nickel (WAMEX A12684). Other results reported were ore grading 14.81% copper, 2.21% cobalt, 0.27% nickel ; and 12.8% copper, 1.63% cobalt, 0.29% nickel .

The best underground ore results from the Carlow Castle Mine reported from 1971 samples (WAMEX A12684) were 4.24% copper, 1% cobalt, 0.67% nickel; and 14.17% copper, 0.4% cobalt, 0.36% nickel; and 4% copper, 1.87% cobalt, 0.45% nickel .

Reverse Circulation (RC) Drilling Results:

The Phase One Reverse Circulation (RC) drilling programme consisted of 34 holes for 2,426m has now been completed. Approximately 2,706 samples including 10% QA/QC samples being submitted to the laboratory.

The significant intersections assay results are shown in Table 1 . The drill hole locations are shown in Figure 2. Location of all holes and grades of all holes are shown in Table 2 and Table 3.

The assay results have consistently intersected Cobalt mineralisation above 1% and make the Carlow Castle project significant when compared to other projects currently being explored.

1 As per ASX announcement dated 30 June 2014

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Holes completed to the west of the Carlow South resource area (418,000 tonnes at 3 g/t Au and 0.6% Cu) indicate the mineralisation extends at least another 150m to the west.

Holes ARC005 and ARC033a were drilled down dip to confirm the orebody configuration and obtain material for metallurgical testing. Hole ARC005 was not completed to planned depth due to drilling problems. The intersection in Hole ARC 033a has been extended with receipt of additional results, 22m at 0.7% Co, 5.9 g/t Au and 2.6% Cu .

The intersection on Hole ARC008 ( 11 metres at 0.8% Co, 14.1 g/t Au and 3.4 % Cu ) shows the substantial gold tenor of the mineralisation with attractive copper grades supplemented with additional excellent Cobalt grades.

Drill Hole ARC034 was drilled to test depth extensions and finished in mineralisation at the end of available drill rods at 137m.

Figure 2: Location of Carlow Castle Drill Holes.

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Both Innovex and Niton type pXRF units have been trialed at Carlow Castle, and both identify the high grade cobalt and copper zones. The Niton unit appears to exaggerate the very high cobalt values even further whilst the Innovex unit appears to underestimate the cobalt contents. This appears due to the different ways the proprietary software handles the matrix conflict of iron and Cobalt within the instruments.

The methodology of the pXRF use needs to be further refined regardless of the particular unit utilised, however the pXRF units have proved to be a valuable exploration tool for analysis whilst drilling in the field and awaiting assay results from ALS Global. The variation in both pXRF units is the reason Artemis has not reported these results.

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Table 1: Carlow Castle RC drilling results:

Hole Number	From (m)	To (m)	Interval (m)	Cobalt %	Gold **g/t **	Copper %
ARC001	31	36	5	0.6	2.8	2.2
Including	33	35	2	1.4	5.2	4.2
ARC002	63	67	4	1.1	10.7	4.4
Including	64	66	2	1.8	19.8	8.1
ARC003	15	18	3	0.7	1.0	0.6
Including	17	18	1	1.2	1.9	1.2
ARC004	32	35	3	0.9	0.9	1.9
Including	34	35	1	1.6	0.9	0.2
ARC005	48	54	6	1.4	4.1	1.7
ARC006	52	58	6	1.9	3.4	1.4
Including	52	55	3	3.5	6.2	2.4
ARC007	10	14	4	1.8	5.9	1.9
ARC008	32	43	11	0.8	14.1	3.4
Including	64	66	7	0.9	20.4	4.9
ARC009	10	17	7	0.08	0.8	0.5
ARC010				NSI
ARC011	17	21	4	0.8	3.4	3.6
ARC012	10	13	3	0.5	0.08	0.05
ARC012	17	18	1	0.06	2.4	3.1
ARC013	51	52	1	0.07	1.4	1.4
ARC013	63	65	2	0.01	2.5	1.4
ARC014	57	59	2	0.2	0.9	0.6
ARC014	69	75	6	0.03	0.8	0.8
ARC014	88	89	1	0.03	4.3	2.5
ARC015	19	21	2	Stope
ARC015	21	25	4	0.04	4.3	1.8
ARC016	41	44	3	0.4	0.3	0.8
ARC017	34	35	1	0.1	0.5	0.7
ARC018	28	30	2	0.1	0.9	0.3
ARC019				NSI
ARC020				NSI
ARC021				NSI
ARC022	37	38	1	0.03	1.1	0.1
ARC023				NSI
ARC024	2	5	3	0.02	1.1	0.3
ARC024	25	30	5	0.3	2.9	0.6
ARC025	19	23	4	0.04	1.1	0.2
ARC025	48	52	4	0.5	4.1	1.2
ARC026	1	5	4	0.02	0.9	0.4
ARC027	6	13	7	0.06	1.0	0.8
ARC028	3	25	22	0.06	0.7	0.4
Including	20	25	5	0.07	1.2	0.6
ARC028	36	41	5	0.3	375	0.8
ARC029				NSI
ARC030				NSI
ARC031	86	96	10	0.6	4.1	0.7
Including	86	89	3	1.3	12.3	1.4
ARC032	83	87	4	0.3	0.8	0.08
ARC033a	39	61	22	0.7	5.9	2.6
Including	41	47	6	1.8	13.9	5.9
ARC034	130	134	4	0.2	0.7	NSI

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Rotary Air Blast (RAB) Drilling:

A 500 hole shallow Rotary Air Blast (RAB) programme commenced at Carlow Castle to assess a 4km x 1km area (to a depth of 3 metres). The RAB drilling programme was designed to penetrate the surficial cover sequence which masks the underlying geology. Drilling covered an area from 2km west to 2km east of the Carlow Castle RC drilling. The programme has generated a basement geological maps and geochemistry maps (Figures 3, 4, 5) with the aim of defining further mineralised Cobalt/Gold/Copper trends for follow up with RC drilling.

The RAB geochemical program has defined several new targets and has significantly extended the potential strike length of the Carlow South system to about a 1,000m. The most significant result is the indication of a mineralised zone along the contact with chert/cataclastic sediment horizon to the north of Quod Est. Artemis geologists had postulated that the sulphur contents of the sediments had contributed to the Cobalt deposition within Quod Est, but the apparent association of Cobalt with sediments could be highly significant.

Figure 3 shows the Cobalt geochemistry with the sediment Cobalt anomaly in 2 parts, the eastern zone about a 400m long and the higher grade western zone about 100m long. The level of Cobalt response requires closer investigation. Although copper anomalism is low along the sediment cobalt anomaly, drilling down to 79 metres at Quod Est has established a strong relationship between Cobalt and Gold.

The geochemistry indicates zoning of Cobalt, Copper (Figure 4) and Gold (Figure 5) with strong correlation in a number of new target areas.

A Programme of Work has been submitted to the Department of Mines and Petroleum for further RC and diamond drilling.

Figure 3: Geochemistry of Carlow Castle area for Cobalt generated from shallow RAB drilling.

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Figure 4: Geochemistry of Carlow Castle for Copper generated from shallow RAB drilling.

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Figure 5: Geochemistry of Carlow Castle for Gold generated from shallow RAB drilling.

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Figure 6: Artemis Resources Projects in Karratha Area.

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BACKGROUND INFORMATION ON ARTEMIS RESOURCES

Artemis Resources Limited is a resources exploration and development company with a focus on its prospective Pilbara (gold, cobalt, base metals, platinum, platinum group elements and iron ore) and the Mt Clement-Paulsens (gold) project in Western Australia. Artemis owns the fully permitted 425,000tpa Radio Hill nickel and copper operations, processing plant and associated mining and exploration tenements with significant existing JORC 2004 compliant resources of Nickel, Copper and Zinc situated within a 15 km radius of the Radio Hill plant. The Radio Hill Plant is located 35 km south of Karratha in the Pilbara Region of Western Australia.

CONTACTS

For further information on this update or the Company generally, please visit our website at www.artemisresources.com.au or contact:

	Investors / Shareholders Edward Mead Executive Director Telephone: +61 407 445 351 Email:Ed.Mead@artemisresources.com.au	Media David Tasker Professional Public Relations Telephone: +61 433 112 936 Email:David.tasker@ppr.com.au

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COMPETENT PERSONS STATEMENT

The information in this document that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Edward Mead, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Mead is a Director of Artemis Resources Limited and is a consultant to the Company, and is employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Mead consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

FORWARD LOOKING STATEMENTS AND IMPORTANT NOTICE

This report contains forecasts, projections and forward looking information. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions it can give no assurance that these will be achieved. Expectations, estimates and projections and information provided by the Company are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of Artemis’ control. Actual results and developments will almost certainly differ materially from those expressed or implied. Artemis has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. To the maximum extent permitted by applicable laws, Artemis makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for (1) the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this report and (2) without prejudice to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other forward looking information contained or referred to in this report.

Investors should make and rely upon their own enquiries before deciding to acquire or deal in the Company’s securities.

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Table 2: Location of Carlow Castle RC Drill Holes.

Hole ID	Easting m	Northing m	Elevation m
ARC001	506929.9	7698920.1	47.5
ARC002	506959.1	7698916.3	46.9
ARC003	506909.9	7698896.8	46.3
ARC004	506925.7	7698896.5	46.4
ARC005	506888.5	7698919.8	47.4
ARC006	506947.2	7698894.3	46.2
ARC007	506911.2	7698937.8	48.8
ARC008	506933.1	7698937.9	48.3
ARC009	506904.8	7698960.6	49.9
ARC010	506923.0	7698961.9	50.0
ARC011	506917.2	7698917.6	47.8
ARC012	506902.2	7698878.7	45.5
ARC013	506922.6	7698879.3	45.5
ARC014	506945.0	7698880.1	46.0
ARC015	506899.2	7698838.0	45.8
ARC016	506919.3	7698838.3	48.6
ARC017	506869.8	7698799.1	43.8
ARC018	506888.0	7698799.8	44.9
ARC019	506906.8	7698801.0	46.3
ARC020	506927.7	7698801.9	48.5
ARC021	506868.4	7698762.0	42.7
ARC022	506887.7	7698761.4	43.4
ARC023	506907.5	7698760.6	44.7
ARC024	506579.8	7698699.8	42.0
ARC025	506619.2	7698698.1	42.0
ARC026	506659.4	7698699.3	42.2
ARC027	506699.1	7698699.7	42.0
ARC028	506742.0	7698701.2	41.7
ARC029	506944.1	7698957.6	49.6
ARC030	506952.3	7698938.3	48.0
ARC031	506973.3	7698916.9	46.9
ARC032	506969.8	7698896.3	46.4
ARC033	506895.8	7698937.6	48.5
ARC033a	506893.2	7698937.5	48.5
ARC034	506973.3	7698940.2	47.7

Table 3: Significant Results Carlow Castle RC Drill Holes (>0.5g/t Au, 0.2% Co, 0.5% Cu)

Id ARC001 ARC001 ARC001 ARC001 ARC001 ARC001 ARC001 ARC001 ARC001 ARC001 ARC002	From	To	SAMPLE	Au	Ag	As	Co	Cu	Ni	S	Zn
	18	19	ARC0019	0.1	0.25	48	61	9730	129	0.01	113
	21	22	ARC0024	0.19	0.25	158	145	5530	108	0.01	103
	22	23	ARC0025	0.28	0.25	215	154	5570	103	0.01	82
	30	31	ARC0033	0.51	1	332	151	4830	38	0.02	73
	31	32	ARC0034	0.5	3.8	270	316	7170	29	0.05	68
	32	33	ARC0035	2.78	5.6	770	921	14050	83	0.06	131
	33	34	ARC0036	0.17	2.1	481	1065	6390	67	0.34	86
	34	35	ARC0037	6.06	10.1	21100	14550	40200	936	6.01	103
	35	36	ARC0038	4.27	10.2	19400	13250	44600	872	4.88	156
	36	37	ARC0039	0.72	0.7	780	1040	2460	244	0.28	195
	55	56	ARC0146	1.4	0.25	3230	2320	602	209	0.2	75

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Id	**From **	To	SAMPLE	Au	Ag	As	Co	Cu	Ni	S	Zn
ARC002	60	61	ARC0151	0.74	2	1295	1760	3680	205	0.13	76
ARC002	62	63	ARC0153	0.52	1.6	2190	1150	4680	176	0.11	91
ARC002	63	64	ARC0154	1.85	3.5	10950	7500	10950	527	2.01	143
ARC002	64	65	ARC0155	10.75	20.5	28200	19400	85100	1495	10	413
ARC002	65	66	ARC0156	28.9	19.6	23300	16250	77200	953	9.81	272
ARC002	66	67	ARC0157	1.34	1.3	2350	2060	4330	228	0.5	140
ARC003	15	16	ARC0212	**0.51 **	0.8	1125	2740	1950	191	0.1	85
ARC003	16	17	ARC0213	0.7	1.2	1500	4940	2850	307	0.13	119
ARC003	17	18	ARC0214	1.87	3.5	9310	12050	12250	614	0.15	162
ARC003	25	26	ARC0224	0.73	1.3	84	109	4250	62	0.56	117
ARC003	26	27	ARC0225	0.5	1.3	53	91	6060	75	0.85	115
ARC003	29	30	ARC0228	1.47	7.9	2630	1955	29900	355	5.06	288
ARC003	41	42	ARC0242	3.01	5.6	2440	1845	25900	276	3.46	274
ARC004	32	33	ARC0282	0.45	2.1	4040	3030	8850	219	1.82	141
ARC004	33	34	ARC0283	1.22	10.3	15650	10750	45100	786	7.95	296
ARC004	34	35	ARC0284	0.9	0.9	22800	15700	1970	865	1.3	107
ARC004	38	39	ARC0288	1.24	0.6	787	506	1090	384	0.36	97
ARC004	39	40	ARC0289	0.68	0.6	442	286	2080	273	0.36	94
ARC004	42	43	ARC0292	**0.54 **	0.25	202	175	1030	135	0.22	81
ARC004	49	50	ARC0299	0.63	1.5	1690	1220	5850	261	1.21	138
ARC004	51	52	ARC0303	0.32	3.6	398	314	14500	155	2.39	216
ARC004	52	53	ARC0304	0.19	1.4	357	276	5990	189	1.69	159
ARC004	59	60	ARC0311	0.46	1.3	4840	3490	5410	374	1.68	132
ARC004	70	71	ARC0324	0.6	1.1	140	122	3380	162	0.55	109
ARC005	39	40	ARC0378	0.53	0.7	1725	706	1970	162	0.005	183
ARC005	43	44	ARC0384	0.99	1	4040	3010	2830	273	0.02	156
ARC005	44	45	ARC0385	**0.54 **	0.9	2410	2320	2590	261	0.03	117
ARC005	45	46	ARC0386	0.81	0.25	668	1000	2290	169	0.01	111
ARC005	48	49	ARC0389	3.75	5.9	9820	7310	20500	548	1.02	251
ARC005	49	50	ARC0390	13.15	12.5	10000	32300	33200	2050	6.8	87
ARC005	50	51	ARC0391	2.88	4.6	10000	13200	17650	882	3.87	69
ARC005	51	52	ARC0392	1.08	2.4	4720	3590	9860	255	1.67	181
ARC005	52	53	ARC0393	2.56	4.5	10000	18850	12350	1090	2.75	143
ARC005	53	54	ARC0394	1.44	1.9	10000	10800	6910	583	1.45	103
ARC005	58	59	ARC0399	**1.84 **	0.25	661	1415	717	186	0.06	79
ARC006	52	53	ARC0488	4.75	2.6	12150	7180	10985	435	2.04	149
ARC006	53	54	ARC0489	7.18	12.1	45000	31000	54200	2050	9.3	315
ARC006	54	55	ARC0490	6.8	3.5	94300	65400	7680	3910	6.33	96
ARC006	55	56	ARC0491	1.12	1.1	7400	5270	5170	365	1.69	89
ARC006	56	57	ARC0492	0.39	0.25	6710	4840	1690	315	0.58	68
ARC006	57	58	ARC0493	0.23	0.25	3450	2550	1660	192	0.46	64
ARC006	60	61	ARC0496	0.64	0.25	6720	4770	1540	400	0.64	89
ARC006	67	68	ARC0505	0.9	0.8	6160	4240	4000	478	0.84	107
ARC006	72	73	ARC0510	1.45	2.5	6400	4490	9870	433	1.75	122
ARC006	81	82	ARC0519	1.76	0.25	1160	878	1730	192	0.63	99
ARC006	82	83	ARC0522	2.08	0.25	836	628	924	166	0.29	95
ARC006	83	84	ARC0523	0.39	1.9	596	464	9180	164	1.21	147
ARC006	87	88	ARC0527	0.49	2.6	1190	898	11950	281	2.4	161
ARC007	10	11	ARC0542	1.47	0.25	404	2690	5920	322	0.01	165
ARC007	11	12	ARC0543	10.4	6.3	1475	44450	21900	752	0.03	158
ARC007	12	13	ARC0544	11.15	17.9	3680	19200	44400	1010	0.8	130
ARC007	13	14	ARC0545	0.54	0.6	2140	5490	3500	419	0.01	140
ARC008	32	33	ARC0626	8.86	9.3	19700	16400	37500	720	2	531
ARC008	33	34	ARC0627	7.98	15.5	20700	14800	56900	855	4.07	195
ARC008	34	35	ARC0628	11.1	4.6	10150	7000	15050	467	1.66	190
ARC008	35	36	ARC0629	67.3	20.9	4300	2440	78200	314	10	347
ARC008	36	37	ARC0630	4.17	4.2	1790	1090	19400	119	1.84	259
ARC008	37	38	ARC0631	12.25	10	9700	6920	43700	481	3.02	224

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Id	**From **	To	SAMPLE	Au	Ag	As	Co	Cu	Ni	S	Zn
ARC008	38	39	ARC0632	31	25.9	26300	18250	98100	1280	6.45	182
ARC008	39	40	ARC0633	6.71	3.8	20000	14350	12150	914	1.42	200
ARC008	40	41	ARC0635	2.89	1.3	4180	3630	5040	321	0.39	213
ARC008	41	42	ARC0636	**1.34 **	0.7	1080	1160	3440	245	0.42	134
ARC008	42	43	ARC0637	1.22	1.4	1240	1090	5280	221	0.45	138
ARC008	53	54	ARC0649	0.82	0.6	542	421	2030	191	0.28	100
ARC008	54	55	ARC0650	0.9	0.7	720	567	2260	238	0.31	94
ARC008	55	56	ARC0651	1.24	1.2	882	696	3000	295	0.43	119
ARC008	58	59	ARC0654	0.73	2.8	1070	820	4230	196	0.76	90
ARC008	60	61	ARC0656	0.55	0.7	658	517	3110	168	0.37	83
ARC008	64	65	ARC0662	0.79	0.25	246	211	1185	160	0.22	89
ARC009	9	10	ARC0687	0.24	0.25	138	535	6230	190	0.005	106
ARC009	10	11	ARC0688	1.01	0.25	506	1070	10300	281	0.005	150
ARC009	11	12	ARC0689	0.57	0.7	540	948	3760	239	0.005	159
ARC009	13	14	ARC0691	0.42	0.25	431	1340	5970	221	0.005	137
ARC009	14	15	ARC0692	0.99	0.25	355	401	3140	151	0.005	105
ARC009	15	16	ARC0693	1.57	0.25	529	463	3880	137	0.005	118
ARC009	16	17	ARC0694	0.7	0.25	224	631	2320	163	0.005	161
ARC010	30	31	ARC0764	0.55	0.25	136	268	386	141	0.005	64
ARC011	0	1	ARC0822	0.56	2.4	1530	1845	7790	301	0.53	73
ARC011	13	14	ARC0835	0.58	0.25	120	224	2030	142	0.01	82
ARC011	17	18	ARC0839	0.63	6.2	3990	5010	28700	349	0.89	386
ARC011	18	19	ARC0842	3.72	5.1	9240	6280	18250	472	0.39	168
ARC011	19	20	ARC0843	4.63	20.4	21700	15350	80400	1150	5.34	289
ARC011	20	21	ARC0844	4.44	4.6	8040	6110	17500	335	0.62	164
ARC012	10	11	ARC0887	0.03	0.25	444	2840	178	245	0.005	81
ARC012	11	12	ARC0888	0.07	0.25	1365	4850	371	261	0.005	78
ARC012	12	13	ARC0889	0.13	0.25	3710	7360	990	551	0.005	80
ARC012	17	18	ARC0894	2.44	5.1	1210	580	30900	86	0.05	193
ARC012	22	23	ARC0899	0.74	3.5	355	451	11950	95	1.93	129
ARC012	36	37	ARC0915	0.99	1.3	203	191	2400	178	0.52	95
ARC013	35	36	ARC0969	0.83	0.25	544	343	531	196	0.15	88
ARC013	36	37	ARC0970	0.9	1.1	72	79	3450	168	0.49	113
ARC013	51	52	ARC0987	1.36	4.2	992	729	14350	187	2.1	190
ARC013	54	55	ARC0990	0.63	2.9	174	171	10400	192	1.89	143
ARC013	63	64	ARC0999	2.54	7	99	125	26700	141	2.71	226
ARC013	64	65	ARC1002	2.36	0.5	32	46	2100	124	0.26	78
ARC014	57	58	ARC1073	0.87	1.2	3870	2970	5010	217	1.04	97
ARC014	58	59	ARC1074	0.89	1.5	1395	1020	6140	159	1.09	119
ARC014	61	62	ARC1077	1.23	0.7	234	178	2360	183	0.56	113
ARC014	69	70	ARC1087	0.18	4.3	100	113	14400	95	1.71	141
ARC014	70	71	ARC1088	0.36	1.8	230	194	6180	151	1.29	120
ARC014	71	72	ARC1089	0.95	0.9	297	205	2660	170	0.34	108
ARC014	72	73	ARC1090	0.93	1.7	241	171	6220	140	0.82	114
ARC014	73	74	ARC1091	0.34	1.8	150	125	6940	113	0.84	109
ARC014	74	75	ARC1092	2.26	4.1	1530	1090	15100	168	1.85	171
ARC014	75	76	ARC1093	0.78	1	296	221	4090	118	0.52	106
ARC014	85	86	ARC1105	1.07	2.1	245	194	4300	187	0.66	124
ARC014	88	89	ARC1108	4.25	6.9	385	327	24600	170	3.77	280
ARC015	6	7	ARC1116	0.31	0.8	611	526	7050	245	0.005	80
ARC015	18	19	ARC1130	0.04	0.25	236	255	8710	152	0.01	99
ARC015	19	20	Stope
ARC015	20	21	Stope
ARC015	21	22	ARC1133	11.7	7.7	394	385	32200	118	0.66	179
ARC015	22	23	ARC1134	3.4	9.4	704	476	29600	115	0.74	227
ARC015	23	24	ARC1135	1.01	1.5	180	424	5330	177	0.19	282
ARC015	24	25	ARC1136	1.18	1.4	135	473	4710	221	0.24	196
ARC016	41	42	ARC1210	0.24	1.1	3240	2630	4140	278	0.44	133

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Id	**From **	To	SAMPLE	Au	Ag	As	Co	Cu	Ni	S	Zn
ARC016	42	43	ARC1211	0.31	3.4	2440	2130	14150	210	0.39	127
ARC016	43	44	ARC1212	0.37	1.4	9140	6940	4760	462	0.92	76
ARC017	34	35	ARC1289	0.45	1.9	1735	1045	6790	175	0.23	93
ARC017	40	41	ARC1295	0.14	1.3	291	184	5220	130	0.48	63
ARC018	17	18	20171324	0.17	3.8	131	243	5990	110	0.75	64
ARC018	28	29	20171335	0.82	0.25	1610	1130	2690	52	1.54	18
ARC018	29	30	20171336	0.95	0.25	1330	935	1770	42	1.24	18
ARC020	50	51	20171486	0.73	0.25	46	59	390	159	0.1	70
ARC022	37	38	20171626	1.06	0.6	394	349	1185	207	0.42	141
ARC022	42	43	20171631	0.84	1.7	299	279	4490	141	1.86	93
ARC023	36	37	20171677	0.22	2.7	775	484	7540	361	0.24	200
ARC023	69	70	20171714	**0.81 **	0.25	1470	886	2160	291	0.06	102
ARC024	2	3	20171730	1.7	0.25	809	227	1745	40	0.06	46
ARC024	3	4	20171731	0.64	0.25	859	279	3450	82	0.03	88
ARC024	4	5	20171732	0.85	0.6	555	253	2970	48	0.09	74
ARC024	14	15	20171744	1.11	1.1	217	545	1270	95	0.005	84
ARC024	25	26	20171755	0.56	1.2	919	892	3520	86	0.24	77
ARC024	26	27	20171756	6.53	3.5	9510	7410	13200	178	1.28	80
ARC024	27	28	20171757	5.14	3.9	5480	4380	6470	138	0.74	76
ARC024	28	29	20171758	1.43	0.8	2290	2080	1895	115	0.19	70
ARC024	29	30	20171759	0.93	0.7	1080	888	2420	97	0.14	63
ARC024	43	44	20171775	1.98	1.3	190	271	4470	61	0.26	68
ARC024	56	57	20171790	2.68	0.7	310	257	3170	109	0.74	44
ARC025	2	3	20171797	0.51	0.25	130	257	2940	182	0.01	122
ARC025	19	20	20171816	1.26	1	158	447	2030	91	0.005	90
ARC025	20	21	20171817	1.93	0.8	247	532	3620	72	0.01	63
ARC025	21	22	20171818	0.65	0.25	197	322	1220	84	0.005	60
ARC025	22	23	20171819	0.59	0.25	135	424	877	68	0.005	65
ARC025	25	26	20171824	2.17	1.2	115	1775	961	140	0.005	61
ARC025	31	32	20171830	1.22	0.9	163	380	1790	83	0.005	59
ARC025	48	49	20171849	**2.54 **	3.5	2130	1680	11000	77	2.1	75
ARC025	49	50	20171850	1.59	3.5	840	691	14200	57	2.4	68
ARC025	50	51	20171851	8.52	5	15500	11300	15800	197	4.05	54
ARC025	51	52	20171852	3.73	2.3	5490	4300	8010	124	1.97	47
ARC026	1	2	20171865	0.99	0.25	571	219	3220	74	0.04	105
ARC026	2	3	20171866	0.96	0.25	397	148	3810	51	0.05	82
ARC026	3	4	20171867	0.95	0.25	359	138	3940	62	0.07	102
ARC026	4	5	20171868	0.53	0.25	314	105	2860	52	0.03	82
ARC026	8	9	20171872	0.53	0.25	55	50	1630	111	0.005	108
ARC027	6	7	20171939	1.27	0.25	471	348	11300	58	0.01	116
ARC027	7	8	20171942	1.23	0.25	431	315	7480	38	0.01	70
ARC027	8	9	20171943	1.12	0.6	532	680	12900	72	0.02	121
ARC027	9	10	20171944	0.72	0.5	634	968	7920	84	0.03	148
ARC027	11	12	20171946	0.6	0.25	421	759	4780	147	0.01	138
ARC027	12	13	20171947	2.02	1.1	357	295	4120	86	0.1	116
ARC028	3	4	20172004	0.57	0.7	314	271	4840	70	0.02	155
ARC028	6	7	20172007	1.3	1.1	154	324	4380	94	0.01	161
ARC028	9	10	20172010	0.72	0.25	348	326	4010	85	0.03	153
ARC028	10	11	20172011	0.55	0.25	352	428	4230	88	0.04	168
ARC028	11	12	20172012	0.5	0.5	311	577	5220	108	0.06	138
ARC028	13	14	20172014	0.86	0.7	612	816	5340	69	0.005	60
ARC028	15	16	20172016	1.18	1	402	1050	3220	116	0.01	135
ARC028	20	21	20172023	0.86	2.1	719	527	5020	81	0.005	68
ARC028	21	22	20172024	2.17	3.6	911	1095	9140	95	0.51	72
ARC028	22	23	20172025	0.98	2.8	567	565	5840	79	0.48	58
ARC028	23	24	20172026	0.7	1.6	350	403	2950	76	0.13	61
ARC028	24	25	20172027	1.12	0.9	538	957	5460	85	0.01	59
ARC028	36	37	20172039	3.76	2.3	1605	1210	5780	102	1.73	56

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Id	**From **	To	SAMPLE	Au	Ag	As	Co	Cu	Ni	S	Zn
ARC028	37	38	20172042	3.04	3.8	3480	2640	9980	86	2.52	55
ARC028	38	39	20172043	2.16	4	2780	2110	11550	71	2.46	54
ARC028	39	40	20172044	8.12	3.9	7630	5720	9240	167	2.21	50
ARC028	40	41	20172045	1.15	1.9	1025	785	4100	98	1.15	51
ARC028	43	44	20172048	0.51	1	209	170	1900	138	0.57	65
ARC030	65	66	20172236	0.98	0.25	1060	900	1410	84	0.11	294
ARC031	80	81	20172354	0.88	0.25	23	53	1590	109	1.18	152
ARC031	84	85	20172358	**0.67 **	0.25	126	100	1960	107	0.33	172
ARC031	86	87	20172362	8.33	2.6	6920	4980	15500	318	3.07	179
ARC031	87	88	20172363	23.6	4.4	10000	22800	13300	974	4.54	179
ARC031	88	89	20172364	4.96	3	10000	10450	12000	460	2.96	129
ARC031	89	90	20172365	**0.87 **	0.9	2980	2160	5460	103	1.07	73
ARC031	90	91	20172366	0.79	1.6	934	685	8920	39	1.03	82
ARC031	93	94	20172369	0.5	0.5	4830	3430	3260	165	0.92	68
ARC031	94	95	20172370	1.5	0.7	10000	13000	3320	632	1.55	77
ARC031	95	96	20172371	0.53	0.25	6480	4640	1640	217	0.67	54
ARC032	77	78	20172465	0.19	1.2	328	248	5250	27	0.7	44
ARC032	81	82	20172469	0.23	1.4	1635	487	6040	39	1.01	48
ARC032	83	84	20172471	0.83	0.25	6730	5180	1500	327	0.55	51
ARC032	85	86	20172473	0.58	0.25	757	516	868	190	0.21	74
ARC032	86	87	20172474	1.48	0.25	5850	4720	722	410	0.52	74
ARC032	99	100	20172489	0.68	0.25	237	186	1310	158	0.29	100
ARC032	100	101	20172490	**1.92 **	0.7	589	451	1790	199	0.38	106
ARC033a	36	37	20172566	0.54	1	2450	1780	1705	185	0.12	251
ARC033a	37	38	20172567	1.16	1.9	3800	2830	4680	225	0.28	178
ARC033a	38	39	20172568	1.68	5.1	15000	11450	32900	633	1.37	233
ARC033a	39	40	20172569	3.35	9.9	24300	18750	37800	1105	2.32	295
ARC033a	40	41	20172570	34.4	25.3	35900	27900	118000	1715	6.64	309
ARC033a	41	42	20172571	21.2	20.5	31500	24200	88400	1465	5.28	298
ARC033a	42	43	20172572	12.6	12.2	19500	14450	38900	864	2.97	203
ARC033a	43	44	20172573	**9.84 **	12	19400	13900	43400	852	3.69	124
ARC033a	44	45	20172574	6.86	7.9	12700	7470	30800	524	2.06	155
ARC033a	45	46	20172575	3.14	4	4400	3380	13050	298	0.85	175
ARC033a	46	47	20172576	3.52	4	5370	3940	15950	329	1.37	183
ARC033a	47	48	20172577	10.7	23.5	12150	7290	103500	663	10	372
ARC033a	48	49	20172578	8.28	6.6	12950	8610	21700	627	1.71	184
ARC033a	49	50	20172579	1.87	1.2	1455	1105	4230	192	0.28	243
ARC033a	53	54	20172582	1.06	0.8	1265	1185	3320	169	0.2	219
ARC033a	54	55	20172583	**1.67 **	1.2	1750	2470	3720	260	0.37	211
ARC033a	58	59	20172587	4.44	2.1	1520	642	5210	80	0.16	146
ARC033a	60	61	20172589	2.43	0.5	512	387	1620	35	0.14	36
ARC033a	84	85	20172615	0.52	0.8	51	42	2320	68	0.4	98
ARC033a	85	86	20172616	2.53	0.5	41	46	1965	98	0.33	88
ARC034	39	40	20172669	1.65	0.25	35	64	1450	136	0.48	103
ARC034	43	44	20172673	0.54	1.2	374	285	3790	154	0.64	120
ARC034	88	89	20172724	0.97	0.5	38	42	1900	107	0.25	62
ARC034	108	109	20172746	**0.54 **	0.25	3210	2440	45	175	0.21	63
ARC034	128	129	20172768	0.57	0.25	771	522	28	134	0.06	60
ARC034	131	132	20172771	0.83	0.25	4840	3620	26	274	0.25	41
ARC034	133	134	20172773	0.6	0.25	2250	1695	58	161	0.14	40
ARC034	136	137	20172776	0.9	0.25	598	433	1010	112	0.18	56

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling		Nature and quality of sampling (eg		Reverse Circulation (RC) drilling was carried out on
techniques		cut channels, random chips, or		the Carlow Castle Co-Cu-Au Project. This drilling was
		specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole		designed to obtain drill chip samples from one metre intervals, from which a 2-4 kilogram sub-sample was collected for laboratory multi-element analysis
		gamma sondes, or handheld XRF		including:Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co,
		instruments, etc). These examples should not be taken as limiting the		Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb,
		broad meaning of sampling.		S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn.
		Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.		All samples were analyzed using a portable XRF instrument (Niton & Innovex). Initial methodology trialing the units has been to make a single randomly placed measurement on the drill sample bag. For
		Aspects of the determination of		more intensive evaluation a minimum of 4
		mineralisation that are Material to		measurements at regular intervals around the
		the Public Report.		sample bag will be required. Optimum sampling time
		In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg		appears to be 90 seconds per measurement. Mineralised zones were identified visually during field logging, and sample intervals selected by the supervising geologist.
		was pulverised to produce a 30 g		Samples from each metre were collected through a
		charge for fire assay’). In other		rig-mounted cyclone and split using a rig-mounted
		cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types	 	three-tier riffle splitter. Field duplicates were taken and submitted for analysis. Substantial historic drilling has been completed in the
		(eg submarine nodules) may		vicinity of the drilling completed by Artemis. The most
		warrant disclosure of detailed		significant work was completed by Consolidated Gold
		information.		Mining Areas (1969), Open Pit Mining Limited (Open
				Pit) between 1985 and 1987, and Legend Mining NL
				(Legend) between 1995 and 2008. Compilation of
				this data has been completed based on Annual
				Exploration Reports available through WAMEX.
				Although limited information is available regarding
				procedures implemented during this period, work
				completed by Artemis to date has validated much of
				this historic data. It is considered that the historic
				work was completed professionally, and that certain
				assumptions can reasonably be based on results
				reported throughout this period.
Drilling		Drill type (eg core, reverse		Reverse Circulation drilling at Carlow Castle was
techniques		circulation, open-hole hammer,		completed by a track-mounted Schramm T450 RC
		rotary air blast, auger, Bangka,		drilling rig using a 5¼ inch diameter face sampling
		sonic, etc) and details (eg core		hammer.
		diameter, triple or standard tube,
		depth of diamond tails, face-
		sampling bit or other type, whether
		core is oriented and if so, by what
		method, etc).
Drill sample		Method of recording and assessing		Sample recoveries are recorded by the geologist in
recovery		core and chip sample recoveries		the field during logging and sampling.
		and results assessed.		Ifpoor sample recoveryis encountered during

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		Measures taken to maximise		drilling, the supervising geologist and driller endeavor
		sample recovery and ensure		to rectify the problem to ensure maximum sample
		representative nature of the		recovery.
		samples.		Visual assessments are made for recovery, moisture,
		Whether a relationship exists		and possible contamination.
		between sample recovery and		A cyclone and three-tier riffle splitter were used to
		grade and whether sample bias		ensure representative sampling, and were routinely
		may have occurred due to		inspected and cleaned.
		preferential loss/gain of fine/coarse		Sample recoveries during drilling completed by
		material.		Artemis were high, and all samples were dry.
				Insufficient data exists at present to determine
				whether a relationship exists between grade and
				recovery. This will be assessed once a statistically
				representative amount of data is available.
Logging		Whether core and chip samples		All drill chip samples are geologically logged at 1m
		have been geologically and		intervals from surface to the bottom of each drillhole.
		geotechnically logged to a level of		It is considered that geological logging is completed
		detail to support appropriate Mineral		at an adequate level to allow appropriate future
		Resource estimation, mining studies		Mineral Resource estimation.
		and metallurgical studies.		Geological logging is considered semi-quantitative
		Whether logging is qualitative or		due to the limited geological information available
		quantitative in nature. Core (or		from the Reverse Circulation method of drilling.
		costean, channel, etc) photography.		All RC drillholes completed by Artemis during the
		The total length and percentage of		current program have been logged in full.
		the relevant intersections logged.
Sub-sampling		If core, whether cut or sawn and		The RC drilling rig was equipped with a rig-mounted
techniques and		whether quarter, half or all core		cyclone and three-tier riffle splitter, which provided
sample		taken.		one bulk sample of approximately 20-30 kilograms,
preparation		If non-core, whether riffled, tube		and a representative sub-sample of approximately 2-
		sampled, rotary split, etc and		4 kilograms for every metre drilled.
		whether sampled wet or dry.		The sample size of 2-4 kilograms is considered to be
		For all sample types, the nature,		appropriate and representative of the grain size and
		quality and appropriateness of the		mineralisation style of the deposit.
		sample preparation technique.		The majority of samples were dry. Where wet sample
		Quality control procedures adopted		was encountered, the cleanliness of the cyclone and
		for all sub-sampling stages to		splitter were closely monitored by the supervising
		maximise representivity of samples.		geologist, and maintained to a satisfactory level to
		Measures taken to ensure that the		avoid contamination and ensure representative
		sampling is representative of the in		samples were being collected.
		situ material collected, including for		Duplicate samples were collected and submitted for
		instance results for field		analysis. Reference standards inserted during
		duplicate/second-half sampling.		drilling.
		Whether sample sizes are
		appropriate to the grain size of the
		material being sampled.
Quality of assa		The nature, quality and		ALS (Perth) were used for all analysis of drill samples
data and		appropriateness of the assaying		submitted by Artemis. The laboratory techniques
laboratory tests		and laboratory procedures used and		below are for all samples submitted to ALS and are
		whether the technique is considered		considered appropriate for the style of mineralisation
		partial or total.		defined within the Carlow Castle Project area:
		For geophysical tools,		 Samples above 3Kg riffle split.
		spectrometers, handheld XRF		 Pulverise to 95% passing 75 microns
		instruments, etc, the parameters		 50 gram Fire Assay (Au-AA26) with ICP finish -
		used in determining the analysis		Au.
		including instrument make and		 4 Acid Digest ICP-AES Finish (ME-ICP61) –
		model, reading times, calibrations factors applied and their derivation,		Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe,
		etc.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		Nature of quality control procedures		Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb,
		adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.		Sc, Sr, Th, Ti, Tl, U, V, W, Zn.  Ore Grade 4 Acid Digest ICP-AES Finish (ME- OG62) Standards were used for external laboratory checks by Artemis.
				Duplicates were used for external laboratory checks
				by Artemis.
				Portable XRF (pXRF) analysis was completed using
				both Niton & Innovex units. XRF analysis was
				completed on the single metre sample bulk drill
				ample retained on site. Further statistical analysis will
				be completed to better determine the accuracy and
				precision of the pXRF unit based on laboratory assay
				results.
				Portable XRF results are considered semi-
				quantitative and act as a guide to mineralised zones
				and sampling.
Verification of		The verification of significant		At least two company personnel verify all significant
sampling and		intersections by either independent		results.
assaying		or alternative company personnel.		All geological logging and sampling information is
		The use of twinned holes.		completed firstly on to paper logs before being
		Documentation of primary data,		transferred to Microsoft Excel spreadsheets. Physical
		data entry procedures, data		logs and sampling data are returned to the Hastings
		verification, data storage (physical		head office for scanning and storage.
		and electronic) protocols.		No adjustments of assay data are considered
		Discuss any adjustment to assay		necessary.
		data.
Location of dat		Accuracy and quality of surveys		A Garmin GPSMap62 hand-held GPS was used to
points		used to locate drill holes (collar and		define the location of the drillhole collars. Standard
		down-hole surveys), trenches, mine		practice is for the GPS to be left at the site of the
		workings and other locations used		collar for a period of 5 minutes to obtain a steady
		in Mineral Resource estimation.		reading. Collar locations are considered to be
		Specification of the grid system		accurate to within 5m. Collars will be picked up by
		used.		DGPS if warranted in the future.
		Quality and adequacy of		Downhole surveys were captured at 30 metre
		topographic control.		intervals for the drillholes completed by Artemis.
				The grid system used for all Artemis drilling is GDA94
				(MGA 94 Zone 50)
				Topographic control is obtained from surface profiles
				created bydrillhole collar data.
Data spacing a		Data spacing for reporting of		Current drillhole spacing is variable and dependent
distribution		Exploration Results.		on specific geological, and geophysical targets, and
		Whether the data spacing and		access requirements for each drillhole.
		distribution is sufficient to establish		No sample compositing has been used for drilling
		the degree of geological and grade		completed by Artemis. All results reported are the
		continuity appropriate for the		result of 1 metre downhole sample intervals.
		Mineral Resource and Ore Reserve
		estimation procedure(s) and
		classifications applied.
		Whether sample compositing has
		been applied.
Orientation of		Whether the orientation of sampling		Drillholes were located in order to intersect the target
data in relation		achieves unbiased sampling of		at an angle perpendicular to strike direction. As the
geological		possible structures and the extent to		target structures were considered to be steep to
structure		which this is known, considering the		moderately dipping, all Artemis drillholes were angled
		deposit type.		at -55 or -60 degrees.
		If the relationship between the

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		drilling orientation and the
		orientation of key mineralised
		structures is considered to have
		introduced a sampling bias, this
		should be assessed and reported if
		material.
Sample securit		The measures taken to ensure		The chain of custody is managed by the supervising
		sample security.		geologist who places calico sample bags in
				polyweave sacks. Up to 10 calico sample bags are
				placed in each sack. Each sack is clearly labelled
				with:
				o Artemis Resources Ltd
				o Address of laboratory
				o Sample range
				Samples were delivered by Artemis personnel to the
				transport company in Karratha and shrink wrapped
				onto pallets.
				The transport company then delivers the samples
				directly to the laboratory.
Audits or revie		The results of any audits or reviews		Data is validated upon up-loading into the master
		of sampling techniques and data.		database. Any validation issues identified are
				investigated prior to reporting of results.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral		Type, reference name/number,		RC drilling by Artemis was carried out on
tenement and		location and ownership		E47/1797 – 100% owned by Artemis Resources
land tenure		including agreements or		Ltd. This tenement forms a part of a broader
status		material issues with third		tenement package that comprises the West
		parties such as joint ventures,		Pilbara Project.
		partnerships, overriding		This tenement is in good standing and no known
		royalties, native title interests,		impediments exist (see map provided in this
		historical sites, wilderness or		report for location).
		national park and
		environmental settings.
		The security of the tenure held
		at the time of reporting along
		with any known impediments
		to obtaining a licence to
		operate in the area.
Exploration		Acknowledgment and		The most significant work to have been
done by other		appraisal of exploration by		completed historically in the Carlow Castle area,
parties		other parties.		including the Little Fortune and Good Luck
				prospects, was completed by Open Pit Mining
				Limited between 1985 and 1987, and
				subsequently Legend Mining NL between 1995
				and 2008.
				Work completed by Open Pit consisted of
				geological mapping, geophysical surveying (IP),
				and RC drillingand sampling.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				Work completed by Legend Mining Ltd consisted
				of geological mapping and further RC drilling.
				Legend also completed an airborne ATEM
				survey over the project area, with follow up
				ground-based FLTEM surveying. Re-processing
				of this data was completed by Artemis, and was
				critical in developing drill targets for the
				completed RC drilling.
				Compilation and assessment of historic drilling
				and mapping data completed by both Open Pit
				and Legend has indicated that this data is
				compares well with data collected to date by
				Artemis. Validation and compilation of historic
				data is ongoing.
				All exploration and analysis techniques
				conducted by both Open Pit and Legend are
				considered to have been appropriate for the style
				of deposit.
Geology		Deposit type, geological setting		The Carlow Castle Co-Cu-Au prospect includes
		and style of mineralisation.		a number of mineralised shear zones, located on
				the northern margin of the Andover Intrusive
				Complex. Mineralisation is exposed in numerous
				workings at surface along numerous quartz rich
				shear zones. Both oxide and sulphide
				mineralisation is evident at surface associated
				with these shear zones.
				Sulphide mineralisation appears to consist of
				Chalcopyrite, chalcocite, cobaltite andpyrite
Drill hole		A summary of all information		Collar information for all drillholes reported is
Information		material to the understanding		provided in the body of this report.
		of the exploration results
		including a tabulation of the
		following information for all
		Material drill holes:
		o easting and northing of the
		drill hole collar
		o elevation or RL (Reduced
		Level – elevation above
		sea level in metres) of the
		drill hole collar
		o dip and azimuth of the hole
		o down hole length and
		interception depth
		o hole length.
		If the exclusion of this
		information is justified on the
		basis that the information is not
		Material and this exclusion
		does not detract from the
		understanding of the report,
		the Competent Person should
		clearly explain why this is the
		case.
Data		In reporting Exploration		All intervals reported are composed of 1 metre
aggregation		Results, weighting averaging		down hole intervals, and are therefore length
methods		techniques, maximum and/or		weighted.
		minimum grade truncations (eg		No upper or lower cutoff grades have been used
		cutting of high grades) and cut-		in reporting results.
		off grades are usually Material		No metal equivalent calculations are used in this

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		and should be stated.		report.
		Where aggregate intercepts
		incorporate short lengths of
		high grade results and longer
		lengths of low grade results,
		the procedure used for such
		aggregation should be stated
		and some typical examples of
		such aggregations should be
		shown in detail.
		The assumptions used for any
		reporting of metal equivalent
		values should be clearly
		stated.
Relationship		These relationships are		True widths of mineralisation have not been
between		particularly important in the		calculated for	this report, and as such all
mineralisation		reporting of Exploration		intersections	reported are down-hole
widths and		Results.		thicknesses.
intercept lengths		If the geometry of the		A better understanding of the deposit geometry
		mineralisation with respect to		will be achieved on thorough interpretation of the
		the drill hole angle is known, its		data. True thicknesses may be reported at a later
		nature should be reported.		date if warranted. Due to the moderately to
		If it is not known and only the		steeply dipping nature of the mineralised zones,
		down hole lengths are		it is expected that true thicknesses will be less
		reported, there should be a		than the reported down-hole thicknesses.
		clear statement to this effect
		(eg ‘down hole length, true
		_width not known’). _
Diagrams		Appropriate maps and sections		Appropriate maps and sections are available in
		(with scales) and tabulations of		the body of this announcement.
		intercepts should be included
		for any significant discovery
		being reported These should
		include, but not be limited to a
		plan view of drill hole collar
		locations and appropriate
		sectional views.
Balanced		Where comprehensive		Reporting of results in this report is considered
reporting		reporting of all Exploration		balanced.
		Results is not practicable,
		representative reporting of
		both low and high grades
		and/or widths should be
		practiced to avoid misleading
		reporting of Exploration
		Results.
Other		Other exploration data, if		Targeting for	the RC drilling completed by
substantive		meaningful and material,		Artemis was based on compilation of historic
exploration data		should be reported including		exploration data, and the surface expression of
		(but not limited to): geological		the targeted	mineralized shear zones and
		observations; geophysical		associated historic workings.
		survey results; geochemical
		survey results; bulk samples –
		size and method of treatment;
		metallurgical test results; bulk
		density, groundwater,
		geotechnical and rock
		characteristics; potential
		deleterious or contaminating

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		substances.
Further work		The nature and scale of		The results at the Carlow Castle Co-Cu-Au
		planned further work (eg tests		project warrant further drilling. As this is a first
		for lateral extensions, depth		phase drill program the results to date are
		extensions or large-scale step-		considered excellent.
		out drilling).
		Diagrams clearly highlighting
		the areas of possible
		extensions, including the main
		geological interpretations and
		future drilling areas, provided
		this information is not
		commercially sensitive.

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